South Africa’s mining production falls by 8.4% in July

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South Africa’s mining production falls by 8.4% in July

Mining production in South Africa fell by 8.4 percent year on year in July 2022. The July 2022 Mining and Sales Index data released by the Statistics South Africa, the country’s national statistical service attributed the decline to the fall of production of mainly gold, platinum and iron ore.

According to the data, gold production fell by 19.7 percent, contributing 3.1 percentage points to the decline in the entire mine production, and platinum-group metals (PGMs) production fell by 12.2 percent, contributing 2.8 percentage points to the decline, while iron ore mining fell by 20.4 percent, contributing 2.7 percentage points to the drop in ore production.

Sales

Mineral sales on the other hand increased in July compared with the same period last year. In July 2022, mineral sales at current prices increased by 4.3 percent year on year. The largest positive contributors included coal sales volume increasing 84.3 percent and contributing 13.8 percentage points to the sales of the entire industry, followed by chromium ore, which increased sales volume by 94.5 percent, contributing 2.1 percentage points to the sales value, and manganese ore sales volume increased by 44.9 percent, contributing 1.9 percentage points to the sales of the entire industry.

The data showed that the sales of PGMs fell 29.4 percent, which reduced the sales of the entire mineral by 12.8 percentage points, and the sales of iron ore fell 28.7 percent, pulling down the sales of the entire mineral by 4.6 percentage points. PGMs and iron ore were significant factors in the negative impact on the sales of the entire mineral.

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